Düsseldorf

Country

Population

617,280

Renting

3 Things...

1. Düsseldorf is known for its fashion industry and hosts one of the most important fashion fairs in the world, the "CPD" (Collection Première Düsseldorf), attracting designers and buyers from across the globe. 2. The city has a rich cultural scene, featuring the longest bar in the world located in the Altstadt (Old Town), where visitors can hop from one brewery to another along a stretch of pubs and bars. 3. Düsseldorf is home to the famous "Rheinturm," a telecommunications tower that stands at 240.5 meters tall and offers stunning panoramic views of the city and the Rhine River from its observation deck.

Organisations

Vaillant Group

Grohe

Events

polis Convention 2024

Unlisted Orgs

Population (AI)

617280

Enrich by AI!

Last edited

Sep 30, 2024 6:49 PM

Category

Local programs

Housing Market

The housing market in Düsseldorf, Germany, is characterized by high demand and rising prices, driven by the city's strong economy, cultural appeal, and limited housing supply. Approximately 50.4% of the population rents their apartments, while the remaining 49.6% own their homes. This high rental rate is unique in the EU context, where homeownership is generally more prevalent. Düsseldorf faces a housing crisis marked by shortages and escalating rents. The city's population growth, particularly among young professionals and expatriates, has fueled demand for housing, leading to upward pressure on real estate prices. To address this, the city has seen some development and construction of new residential properties, though these efforts are often hampered by limited space, regulatory hurdles, and construction delays. To support affordable housing, Düsseldorf has implemented various measures, including housing allowances and subsidies for homebuyers, particularly for energy-efficient properties. Additionally, there are ongoing efforts to balance new development with community character and environmental considerations through zoning laws and regulations. Despite these challenges, the city remains committed to advancing affordable and sustainable housing solutions.

Further Actors?

Cooperatives

Housing cooperatives play a significant role in Düsseldorf, contributing to the city's affordable housing market. These cooperatives offer democratic, non-profit housing solutions, which are particularly attractive in times of rising construction costs and stringent financing conditions. In Düsseldorf, housing cooperatives provide a substantial portion of the rental market, with around 2.2 million cooperative apartments in Germany, equating to more than 5% of all apartments or over 10% of all rental apartments. Recent years have seen the emergence of new housing cooperatives in Düsseldorf. For example, new entities like **Diese eG** in Berlin have been established, although they have faced challenges such as state subsidies for buying back real estate. The city promotes cooperative housing by providing plots of land as contributions in kind, supporting the development of affordable housing projects. Additionally, the city's vibrant expat community and international business environment make Düsseldorf an attractive location for cooperative housing initiatives.